My Freedom Coin or MFC is a DeFi platform built upon the transparent and secure BEP-20 blockchain. By blending the secure, transparent, and fast technology of blockchain with the financial service industry the platform aims to provide an accessible alternative to financial institutions around the world.
MFC’s ecosystem works on minimizing the potential for negative volatility that comes with the crypto market while creating stable growth. It has multiple utilities including a wallet, bank, and exchange letting users buy, sell and collateralize their MFC coins.
The platform’s coin works as a crash-proof asset and store of value giving stable growth for investors.
BUSDT Treasury and Floor Price
The MFC coin has a total supply of 7 billion coins that are released through a series of offerings. The funds that are collected through the MFC coin offerings are then stored in a smart contract on a BEP-20 network called the BUSD Treasury (BUSDT).
BUSDT guarantees that all coins in circulation will not fall below Floor Price, which can only stay the same or increase. Floor Price refers to the absolute lowest price that the coin can be and this price subsequently goes up over time.
The consistent growth of BUSDT is ensured as each coin offering is 2X of the Floor Price. Furthermore, all the fees that is charged in MFC is taken out of circulation thereby increasing the Floor Price.
Key aspects
Some major aspects of the My Freedom Coin ecosystem include:
- Collateral Loans: BUSDT allows users to collateralize their MFC and take a loan that is charged at 0.98% per month daily in MFC. Loans are issued out on a 12-month term that is renewable anytime before the period ends. The interest acrrued is taken out of circulation thereby increasing the Floor Price. There is also a 0.5% fee applies for loan renewals with a minimal annual principal payment of 100 BUSD.
- Coin offerings: Coin offerings are the coins that were taken out of circulation and are being resold or new coins are that sold in the market at 2X of the Floor Price. They give the platform a chance to consistently grow the Floor Price depending on the demand for the coin.
- Buyback and community rewards: Community Rewards are generated by Trading License fees and paid to use the My Freedom Exchange. 90% of the Trading License is distributed amongst members who have invited users to MFC while the remaining 10% of it goes to a smart contract called BuyBack that buys MFC that is taken out of circulation to increase the Floor Price.
- P2P exchange: All MFC transactions would have a 2% exchange fee charged to the buyer and the seller. For example, If a user buys $100 worth of MFC they would get $98 worth in MFC. Similarly, by selling $100 worth of MFC, users would get $98 in BUSD. This fee is charged in MFC and taken out of circulation, increasing the Floor Price.
Conclusion
MFC works on an invite-only ecosystem that incentivizes its members to grow their ecosystem through their Sustainable Community Program.
Users can also access My Freedom Coin through the QR code given below.
As mentioned earlier, users can trade on the exchange but will be charged a “Trading License” fee which is $0 for the first 10,000 holders and will grow by $5 for every new 10,000 holders until it gets to a $50 license (100,000 holders).
MFC aims to balance out the inequality of the world economy unlike the current financial situation making it an alternative that provides financial freedom to its users.
For more information on My Freedom Coin, please check out their official website and their Twitter, Telegram, Discord, and Reddit. The app can be downloaded on PlayStore and AppStore.
Disclaimer: This is a paid post and should not be treated as news/advice.